Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2624 Fortune Cir Indianapolis, IN 46241

    • Industrial land
    • 1.85 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-1049136
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Astro Pak Corporation / Metal Polishing Service / Chemistry Lab

    Property Details for 2624 Fortune Cir

    Lot size
    1.85 lot acres
    Zone code
    ZO01
    Property type
    Industrial land
    APN
    49-12-24-103-005.000-900
    APU
    491224103005000900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.2551
    Latitude
    39.7267
    CBSA code
    26900
    CBSA name
    INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,141
    $63,900
    $0.00
    $63,900
    -
    $63,900
    $0.00
    $63,900

    Comparable in this City

    • Value Estimation by Request
      0.49 Acres

      1900 Lawndale Ave

      INDUSTRIAL - VACANT LAND • 0.49 Acres
      1900 Lawndale Ave, Indianapolis, IN 46241-4323
      View Details
    • Value Estimation by Request
      0.66 Acres

      1901 Lawndale Ave

      INDUSTRIAL - VACANT LAND • 0.66 Acres
      1901 Lawndale Ave, Indianapolis, IN 46241-4317
      View Details
    • Value Estimation by Request
      0.12 Acres

      Minnesota St

      INDUSTRIAL - VACANT LAND • 0.12 Acres
      Minnesota St, Indianapolis, IN 46241
      View Details
    • Value Estimation by Request
      1.97 Acres

      5500 Galeao Ct

      INDUSTRIAL - VACANT LAND • 1.97 Acres
      5500 Galeao Ct, Indianapolis, IN 46241-9576
      View Details
    • Value Estimation by Request
      0.90 Acres

      5529 Hanna Ave

      INDUSTRIAL - VACANT LAND • 0.90 Acres
      5529 Hanna Ave, Indianapolis, IN 46241-6407
      View Details
    • Value Estimation by Request
      0.57 Acres

      4335 High School Rd

      INDUSTRIAL - VACANT LAND • 0.57 Acres
      4335 High School Rd, Indianapolis, IN 46241-6454
      View Details

    Similar Nearby for Sale

    • $8,000,000
      80 SF

      80 Acre Industrial Urban Infill

      80-acre industrial site in Opportunity Zone, ready access to interchanges.
      3023 W Morris St, Indianapolis, IN 46241
      View Details
    • $975,000

      Industrial Lot with I-465 Visibility

      1.72-acre industrial lot with prime visibility and interstate access.
      1501 S High School Rd, Indianapolis, IN 46241
      View Details
    • Contact for pricing
      2.50 Acres

      Prime Indianapolis Industrial Land

      2.5 Acres, I-3 Zoning, Ideal Location
      2820 Minnesota St, Indianapolis, IN 46241
      View Details
    • Contact for pricing

      Land in AmeriPlex Business Park

      Highly visible land near Indianapolis Airport and major interstates.
      7425 Heathrow Way, Indianapolis, IN 46241
      View Details
    • Contact for pricing
      0.13 Acres

      Residential Lots in Indianapolis, IN

      Residential lots available in Indianapolis, Indiana.
      827 Ingomar St, Indianapolis, IN 46241
      View Details
    • Contact for pricing
      0.17 Acres

      Indianapolis Land For Sale

      Land available in Indianapolis, Indiana.
      6348 Johnwes Rd, Indianapolis, IN 46241
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      40,144 SF

      Indianapolis Office Space for Lease

      Modern Office Building, 40,144 SF Available
      5151 Exploration Dr, Indianapolis, IN 46241
      View Details
    • $10 SF/Yr
      2,750 SF

      Industrial Space Near Airport

      55,500 SF industrial space with immediate highway access.
      7025 Girls School Ave, Indianapolis, IN 46241
      View Details
    • Contact for pricing
      22,550 SF

      Industrial Space Available For Lease

      22,550 SF industrial space with office, dock doors, and parking.
      2655 Fortune Cir W, Indianapolis, IN 46241
      View Details
    • Contact for pricing
      88,576 SF

      Industrial Space Near Indianapolis Airport

      88,576 SF industrial space suitable for distribution and manufacturing.
      5150 S Decatur Blvd, Indianapolis, IN 46241
      View Details
    • Contact for pricing
      27,748 SF

      Industrial Space with Office

      27,748 SF industrial space featuring office and dock doors.
      4557 W Bradbury Ave, Indianapolis, IN 46241
      View Details
    • Contact for pricing
      2,400 SF

      Industrial Warehouse Space Available

      2400 SF warehouse space for rent in Indianapolis.
      1811 Executive Dr, Indianapolis, IN 46241
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2624 Fortune Cir
    Indianapolis, IN 46241
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.